I came up with a short starter list of why Chief Marketing Officers and Chief Communications Officers should make social media a priority.
You need to know what people are saying about you. There is a customer to customer and press to customer conversation going on throughout the internet. Any company that fails to understand and act on this puts themselves at risk for getting blindsided by the conversation. At a minimum, they should be tracking the conversation. The best practice is to go beyond monitoring to building a social media strategy to influence the conversation.
You need to know what your people are saying. If your customers are using social media, it’s also quite likely that your employees are using social media. They will be doing it no only for themselves, but also to fill gaps in the company’s social media strategy. Left un-managed, this presents numerous risks to the company’s reputation and customer/competitive relations. Inappropriate information may get disclosed and comments about policies by employees may confuse customers. Further, it is not uncommon for information published by employees with good intentions to be poorly maintained and out of date. Every company should have a Social Media Policy and a plan for cleaning up/maintaining information published about them across the internet.
You need to make your marketing/communications more efficient. Customer and stakeholder attention is now in shorter supply than ever. Traditional marketing and communications approaches are becoming increasingly less effective and consequently it’s becoming more expensive to realize communication goals. Social media and community are two mechanisms to radically improve efficiency. It will take an investment, but this investment has much greater leverage than investments in traditional media. Traditional media content scales up linearly with cost and have diminishing returns. Social media content scales up with the size of the community and can have compounding returns. Any cost conscious CMO or CCO should be figuring out how to use these tools to make their companies more cost effective.
Tell us why you think CMOs and CCOs should make social media like blogging, podcasting and networking a priority.
[tags]social media marketing, marketing priorities[/tags]